Aberdeen Government Markets Income Fund Approves Reverse Stock Split
1 report, 1 independent
Updated Sep 24
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What happened
The Board of Trustees of Aberdeen Government Markets Income Fund approved a 1-for-5 reverse stock split of the Fund's issued and outstanding common shares. Under the terms, every five common shares will be consolidated into one common share. The fund announced the move to increase the per-share market price and reduce trading frictions associated with lower-priced securities.
From prnewswire.com
Why it matters
The reverse stock split does not change the fund's investment strategy, net assets, or any shareholder's proportional ownership interest, except for the treatment of fractional shares. The transaction affects only the number of common shares outstanding and the net asset value per share.
From prnewswire.com
Who's involved
- New York Stock ExchangeThe fund trades on the New York Stock Exchange.
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The entities involved
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New York Stock Exchange
American stock exchange
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